TON is down more than 24% year-to-date, even as Santiment said the token's top 100 wallets added 189,730 TON over the past three months. TON also activated the Catchain 2.0 upgrade this week, cutting confirmation times to under 1 second for Telegram mini-apps, payments, and high-frequency activity. Fee reductions are planned next under the network's seven-phase roadmap.